Avis Budget Group Announces Leverage Covenant Waiver Under Existing Credit Facility

PARSIPPANY, N.J., April 27, 2020 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (NASDAQ: CAR) today announced that the Company has obtained a waiver of the leverage covenant included in its existing senior credit facilities, comprised of a term loan and revolving credit facility, until June 30, 2021. The waiver is included in an amendment to […]


PARSIPPANY, N.J., March 23, 2020 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (NASDAQ: CAR) today provided the following business update related to the coronavirus. Joe Ferraro, Interim President and Chief Executive Officer, said, “Consistent with other integral components of the global travel industry, we are seeing significant impacts in our business around the world as […]

Avis Budget Group Enters into New Cooperation Agreement with SRS Investment Management

Board will Ultimately Be Comprised of Nine Directors, Including Three SRS Representatives PARSIPPANY, N.J., Feb. 24, 2020 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (NASDAQ: CAR) (the “Company”) today announced that it has entered into a new cooperation agreement with SRS Investment Management, LLC (“SRS”), the Company’s largest shareholder.  The terms of the new approximately […]

Avis Budget Group Appoints Bernardo Hees chairman of the Board of Directors

PARSIPPANY, N.J., Feb. 10, 2020 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (NASDAQ: CAR) (the “Company”) today announced that Bernardo Hees has been appointed to the Company’s Board of Directors (the “Board”) and named Independent Chairman of the Board and Chair of the Board’s Executive Committee, effective immediately. Over the last 15 years, Mr. Hees […]

Avis Budget Group Named One of Canada’s Best Employers

Ranking recognizes employee satisfaction levels and likelihood to recommend their place of work PARSIPPANY, N.J., Jan. 29, 2020 (GLOBE NEWSWIRE) — Avis Budget Group has been named to the Forbes list of Canada’s Best Employers 2020. Developed in collaboration with analytics firm Statista, the 2020 ranking highlights 300 companies with operations in Canada. Avis Budget […]

Avis Budget Group and Fiat Chrysler Automobiles Sign New Connected Car Agreement, Giving a More Streamlined, Self-Serve and On-Demand Rental Experience in Europe

Customers of Avis Budget Group renting FCA vehicles in Europe will soon find it easier to pick up and return their vehicles, allowing them to manage their entire rental experience digitally and enabling lock/unlock technology.  More than 22,000 connected Fiat, Jeep, Alfa Romeo, Lancia cars and Fiat Professional LCV’s  are projected to be added to […]

Avis Budget Group Provides Leadership Update

Joe Ferraro Named Interim Chief Executive Officer PARSIPPANY, N.J., Dec. 30, 2019 (GLOBE NEWSWIRE) — Avis Budget Group, Inc. (NASDAQ: CAR) today announced that its Board of Directors has appointed Joe Ferraro, President, Americas, as Interim Chief Executive Officer, effective January 1, 2020. Mr. Ferraro’s appointment reflects the previously announced departure at year-end of Larry […]

Avis Budget Group Surpasses 200,000 Connected Vehicle Mark

Connected fleet offers trifecta of benefits: operational efficiency, customer satisfaction and new revenue models PARSIPPANY, N.J., Dec. 16, 2019 (GLOBE NEWSWIRE) — Avis Budget Group announced today that it has surpassed the 200,000 connected car threshold globally, a significant marker on its journey to fully connecting its fleet of more than 600,000 vehicles. To date, […]